PayPal opened access to cryptocurrencies for the United States, and Bitcoin traded above current prices for only 12 days in its history

PayPal has opened access to cryptocurrencies in the US

Payment system PayPal announced that their cryptocurrency service had gone live for US customers.

Users will be able to store, buy and sell digital currencies directly in their PayPal wallet. The company has also increased its weekly cryptocurrency trading limit from the previously announced $10,000 to $20,000.

There are currently four assets available: Bitcoin, Ethereum, Bitcoin Cash and Litecoin. Until December 31st, PayPal will not charge a commission for exchanging of digital currency.

It is expected that in early 2021, the option will be available to users of the payment system around the world with the help of the Venmo mobile application.

BTC price was higher than the current one for only 12 days in history

On Thursday, the closing price of the trading day for Bitcoin was $16,300.

Daily candles were closed only 12 times above this level — this is only 0.28% of the 4,332-day history of the coin’s existence.

According to Messari, ten of those days fell between December 7 and December 20, 2017, and the maximum closure was recorded on December 16 at $19,378. Out of the top 10 cryptocurrencies in terms of capitalization, only LINK remotely approached the Bitcoin indicators: the asset was trading above the price of $12.70 for 2.7% of its lifetime.

Most altcoins have not yet entered historically rare price ranges, analysts say. For example, the ETH price was above the current levels for more than 10% of the time since 1,933 days from the moment the network was launched.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store